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Q. |
Aneconomy in which there are no flows of labour, goods or money to and from other nations is a/an - |
A. | slow economy |
B. | mixed economy |
C. | closed economy |
D. | open economy |
Answer» C. closed economy | |
Explanation: An economy that does not interact with the economy of any other country is known as closed economy. A closed economy is self- sufficient, meaning no imports are brought in and no exports are sent out. It is the opposite of an open economy, in which a country conducts trade with outside regions. |
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